File #: 120477    Version: 1 Name: Lease Amendment - San Francisco Forty Niners - Candlestick Park Stadium
Type: Resolution Status: Passed
Introduced: 5/8/2012 In control: Board of Supervisors
On agenda: Final action: 6/7/2012
Enactment date: 6/7/2012 Enactment #: 209-12
Title: Resolution: 1) approving and authorizing an amendment to the Lease of Candlestick Park Stadium with San Francisco Forty Niners, LLC, to grant the Forty Niners an additional option to terminate the Lease early, between May 31, 2014, and May 31, 2015, providing for the Forty Niners to pay the City $1,000,000 in consideration for the early termination option, and providing that if the Forty Niners exercise the option, the Forty Niners make added minimum guaranteed payments to the City, in lieu of the rent scheduled under the current Lease, of $4,295,000 if the team plays no regular season or post-season NFL games at Candlestick in the 2014 season and up to $5,000,000 more if the team does play such games; 2) approving and accepting the dedication under the amendment of $1,045,000 of such $4,295,000 minimum guaranteed payment for youth programs for the City's Recreation and Park Department; 3) ratifying prior acts; and 4) making environmental findings.
Sponsors: Mayor, Mark Farrell
Attachments: 1. Legislation_Ver1, 2. Response_PLN_051512, 3. Comm_Packet_052412, 4. Board_Packet_060512, 5. Legislation_Final
Legislation Details
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